The Finnish company Nokia has recently made a deal with the smartphone giant Samsung for licensing patents which will cover its innovations in video standards. This announcement comes from the Finnish company on March 11, 2021.
It is well-known that Samsung is willing to provide its folding smartphone display technology to other companies, but this might be rare when Nokia decides to team up with Samsung.
As part of any deal and collaboration, financial terms are always included. However, the financial terms have not been disclosed to the public for this joint venture.
Samsung has made it clear that the company will be paying royalty payments to Nokia. Again, the clear parameters of this term have not been discussed or made public.
This deal comes at a crucial time when almost all the other tech giants in the market are engaged in inventing something or the other. Evidently, this deal between Samsung and Nokia will push both companies forward.
It is crucial to mention that Nokia’s patent portfolio comprises around 20,000 patent families, including over 3,500 declared essential to 5G.
Whereas this may indicate the hogging of essential patents, without a doubt, it will definitely push forward the innovations of both companies and will work towards developing a more efficient technology.
Whatever the aim may be for the newfound deal between the two companies, it is imperative to mention that a few months back, another tech company Ericsson filed a lawsuit against Samsung in the United States in a dispute over royalty payments and patent licenses.
The U.S. International Trade Commission is now responsible for validating this claim’s authenticity. The department mentioned last month that it would open an investigation following Ericsson’s claim that accused Samsung of infringing on some of Ericsson’s patents.